The State of South Dakota helped fund construction of Northern Beef Packers. That Aberdeen slaughterhouse is now bankrupt, leaving workers, investors, and taxpayers holding the bag.
The state can avoid a similar mistake by denying the mining and water use permits requested by Canadian Powertech Uranium... at least according to Dr. James Heisinger and the South Dakota Sierra Club:
...like many uranium and gold mining companies that have declared bankruptcy or left the state once they have taken our resources, Powertech Inc. is financially very weak, its stick having declined in value from $4.45 per share in 2007 to 6 cents per share on May 3, 2013, raising serious questions about whether Powertech would be able to fulfill any promises it might make, and creating a likelihood that taxpayers at the state and/or federal level would be stuck with the bill for any cleanup that occurs... [Dr. James Heisinger, executive committee, South Dakota Chapter of the Sierra Club, official comment, submitted to South Dakota Department of Environment and Natural Resources, 2013.07.05].
Can South Dakota learn its lesson from NBP? Or will we continue to assume the risk for adventurers backing big promises of jobs and tax revenue with shaky business plans?